Pensioners Threaten To Pull Out From Contributory Pension Scheme
*want EFCC, ICPC to investigate release funds
The Nigeria Union of Pensioners Contributory Scheme (NUPCPS) has threatened to pull out from the Contributory Pension Scheme (CPS) unless the outstanding pension increase entitlements owed their members are paid before the end of first quarter of 2023.
National Chairman of NUPCPS, Comrade Sylvanus Nwaiwu who made this known during an engagement with Journalists disclosed that all Civil Servants, both serving and retired have lost confidence on the CPS.
Comrade Nwaiwu further said if government failed to pay the outstanding of 15 percent of 2007, 33 percent of 2010 and the consequential adjustment of pension of 2019, “we would request to be reverted to the old Defined benefit scheme”.
According to Comrade Sylvanus, ” As objective and patriotic Nigerian Senior citizens , we were convinced that if properly managed , the Contributory Pension Scheme (CPS) would prove a good and reliable pension regime for our country.
“But as it is now we have lost confidence in the CPS due to inconsistent and discriminatory manner the government as employer is handling the scheme.
READ ALSO: NUP Lauds FG For The Release Of N7.45BN CPS
“For instance, since 2019 to say the least, there has been a re-cycling budget line in the annual budget of the National Pension Commission (Pencom) for payment of outstanding pension liabilities to CPS retirees without release of funds to that effect.
“Our suspicion is that this method is being employed to stop the unsuspecting CPS retirees from engaging in any public protest for the payment of their pension increase entitlements in the belief that provision has been made for it in the Budget .
“We therefore call on all the anti corruption agencies to investigate from 2019 to date if there were any release funds by Federal Government for the payment of pension increase arrears to retirees under CPS and what happened to the funds including the N700bn Government bonds in 2022, which was made public as being raised by Debt Management Office (DMO) of the budget office in the Federal Ministry of Finance for payment of all entitlements to retirees under CPS amongst others “.